At the Wireless Internet 99 show today, Diversinet Corp. (Nasdaq Small Cap: DVNT; CDN: DVNT), a leader in security software for wireless e-commerce, announced that Research In Motion Limited (TSE:RIM; Nasdaq: RIMM)("RIM"), a pioneer in developing wireless data products and services, has expanded its licensing agreement for Diversinet's Passport security technology. RIM intends to incorporate the technology in its family of wireless handhelds to enable wireless e-commerce applications such as banking, stock trading and consumer purchases.
This licensing agreement will significantly increase the potential penetration of Diversinet's software. RIM is currently delivering multiple wireless products and services to the market. The RIM Inter@ctive™ Pager 950 is sold through BellSouth Wireless Data, PageNet and Cantel® AT&T. The RIM 850 Wireless Handheld™ is sold through American Mobile Satellite Corporation and SkyTel. RIM's BlackBerry™ wireless email solution is offered through Microsoft Exchange value-added resellers (VARs) and system integrators. BlackBerry is also offered as an integrated service through select Internet Service Providers (ISPs). All of RIM's products and services are supported by an active developer community and Independent Software Vendors (ISVs).
"The agreement with RIM expands Diversinet's distribution channel for providing wireless e-commerce security solutions over a variety of devices," says Nagy Moustafa, president and CEO of Diversinet Corp. "RIM is one of the most innovative wireless data companies and its wireless Internet, intranet and e-commerce solutions are sparking the deployment of time-sensitive wireless data services," says Moustafa.
Diversinet provides software systems for implementing an enhanced public-key infrastructure (PKI) as part of the security solution for digital communications and e-commerce over corporate networks, the Internet, and wireless communication systems. Diversinet's Passport software is optimized for wireless devices and other bandwidth-constrained products, such as pagers, handhelds, cellular/GSM phones and smart cards. Diversinet's security solutions employ a modular and multi-mode approach that includes encryption, digital signatures, digital certificates and digital permissions.
"Whether you're managing your bank account or buying a book, security will be a paramount concern and a fundamental requirement. This agreement facilitates RIM's intention to embed digital certificates and ship wireless subscriber devices that are e-commerce ready," said Mike Lazaridis, president and co-CEO of Research In Motion. "Diversinet's Passport software addresses critical security requirements including encryption, authentication, authorization and privacy while respecting wireless resource utilization issues such as memory, bandwidth and power consumption. Developers will value and take advantage of this advanced security design as they define and build the next generation of e-commerce applications."
As part of their efforts in developing wireless e-commerce solutions, RIM and Diversinet will also work together with 724 Solutions to create turnkey wireless packages for such applications as stock trading and banking. 724 Solutions' software provides a critical end-to-end software system that allows financial institutions to bridge their existing systems and content to RIM's wireless handhelds.
"Diversinet and RIM enable 724 Solutions to integrate highly secure communications into our product, and provides a good platform for wireless e-commerce applications, " says Greg Wolfond, founder and CEO of 724 Solutions, Inc.
"By leveraging our unique skills, Diversinet. RIM and 724 Solutions will be able to provide the marketplace with comprehensive wireless e-commerce solutions by combining the right devices, applications and security," says Moustafa.
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